President Luis Abinader announced this Thursday that the Government provided RD$3,475 million to mitigate inflation international.
The measure includes a subsidy for imports of corn, wheat, soybeans, flour and vegetable fat for an amount of RD$3,000 million and RD$475 million for the production of rice and the purchase of certified seeds, so that the effects of the increases do not pass on to the Dominican consumer.
In a press conference at the National Palace, accompanied by the Ministers of Industry, Commerce and Mipymes, VÃctor -Ito- Bisonó and of Agriculture Limber Cruz; as well as representatives of the milling and rice sectors, President Abinader affirmed that the Government is acting in all possible areas.
He referred, in particular, to social assistance and the mitigation of international price increases with local impact, to overcome the crisis with the least possible damage.
He revealed that a budget that no longer had slack has been cut more, to adopt special actions, and mitigate international inflation from which no country in the world escapes.
Likewise, an institution that was practically inactive, such as the Price Stabilization Institute (Inespre), was awarded specialized funds to supply food at low prices.
Likewise, they have tripled the capacity of the economic kitchens and have assigned more resources to the Social Plan of the Presidency for specialized and focused aid, in the process of acquisition.
PresidentAbinader insisted that during the pandemic there was a general increase in prices due to various factorsand at the moment when it was expected to move towards stability, the war arose as a result of the Russian invasion of Ukraine.
Oil and its derivatives, as well as fundamental raw materials, including wheat, soybeans and corn, have experienced significant price increases in the international arena. These raw materials, he indicated, are essential for food production, for the agricultural and poultry sector in general.
He reported that on his recent trip to Argentina he took advantage in meetings with government officials and exporters, as well as with the president of Paraguay, to manage the best international prices and availability of said raw materials.
He argued that the Government has reacted in each case, in the face of a dynamic situation that changes every day.
He gave as an example that the price of a barrel of oil purchased by the Dominican Republic, West Texas, was 97 dollars yesterday and today it woke up to 101, four dollars more in one night.
In the case of raw material to produce fertilizers, such as urea, the price has tripled.
Bring peace of mind to families
Meanwhile, the Minister of Industry, Commerce and MSMEs, expressed despite the adverse international scenario, President Abinader is taking care to bring peace of mind to families and with the commitment that the Dominican people can have access to these products.
"Given the international situation that affects our economy, we must recognize the efforts of industries and brands such as Victorina, Grupo Linda and La Famosa, which have publicly announced, in traditional media with national circulation, that they are working to maintain the same prices for their products."Bisono indicated.
Similarly, he added, Inespre reached an agreement with the supermarket chains La Sirena, Plaza Lama, CCN, Iberia and La Fuente so that the population can purchase food from the basic basket at low costs every Thursday for a period of three months.
"President Abinader’s government is focused on providing solutions as usual, working hand in hand with the national productive apparatus, supporting the entire marketing chain, but paying primary attention to people with limited resources and the middle class, who are those who suffer in their great majority the rises"he claimed.
Among the initiatives that they will be implementing specifically in the case of flour and wheat, he explained that thanks to the fact that the Ministry of Industry and Commerce has reached an understanding with the wheat flour milling companies to maintain bread prices, flour and pasta for a period of at least 45 days.
"Second, under that agreement, the Ministry of Industry, Commerce and Mipymes will disburse RD$400 million to the millsto preventatively not only guarantee prices but also the availability of bread, flour and pasta in the local market"he added.
He highlighted the role and will of the national flour industry, which has gone the extra mile to collaborate sincerely, directly and transparently with the Government and thus protect the national economy and the food security of the population.
Sustainability of the national rice sector
On his side, the Minister of Agriculture, reported that during a meeting with the plenary session of the National Rice Commission (CONA), held on March 10, a series of resolutions were agreed with the aim of achieving the sustainability of the national rice sector, profitability of the producer and the industry and guarantee price stability for the Dominican consumer.
Among these resolutions, the minister mentioned that the rice producer will receive RD$2,975 per bushel and the factories will pay RD$2,875implying a difference of 100 pesos that will be provided by the Dominican Government, which with an estimated harvest of 4.5 million bushels, represents an investment of 450 million pesos.